The Swiss National Bank (SNB) has opted to keep its key interest rate at 1.75%, following a series of five consecutive interest rate hikes. This decision comes as inflation in Switzerland has slightly decreased, but remains above the SNB’s target range of 0 to 2%.
Swiss National Bank Holds 1.75% Rate Amid Inflation
The SNB has stated that its monetary policy, which has been significantly tightened in recent quarters, is effectively counteracting the persistent inflationary pressure. However, it does acknowledge the potential need for further interest rate hikes in the future.
The SNB‘s decision to maintain its key interest rate is in contrast to other major central banks, such as the US Federal Reserve and the European Central Bank, which have recently raised their interest rates.
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